Thu, 09 Nov 2023 | BUSINESS SALE
Anglian Home Improvements (trading as Anglian Windows Ltd) has agreed a deal to acquire certain Safestyle UK assets from administrators. Double glazing manufacturer and retailer Safestyle fell into administration last month amid a number of pressures including cost inflation, economic uncertainty and weak consumer demand.
Rick Harrison and Will Wright from Interpath Advisory were appointed as joint administrators to the Bradford-based company on October 30 2023 and have now agreed a deal to sell the company’s order book and certain assets to Anglian Home Improvements.
Terms of the agreement are still to be finalised, as well as certain legal requirements. For the time being, the joint administrators and Anglian Home Improvements have entered into a sub-contractor agreement that will enable Anglian to fulfil customer orders.
The agreement follows the announcement that customer orders would not be fulfilled by Safestyle while it was in administration and that the joint administrators were seeking to secure a deal to sell certain business and assets to a third party firm.
The interim sub-contractor arrangement means that Anglian will be able to arrange completion or fulfilment of orders with customers, including those who were mid-way through installations or had booked a Safestyle UK installation. The joint administrators have said that priority will be given to customers part-way through their installations.
Anglian Home Improvements Executive Chairman Peter Mottershead commented: "We were keen to support in what we know is a very difficult situation, and so hope that this will go some way towards alleviating the concern and burden on those Safestyle UK customers who have been impacted.”
"Our customer service teams will be making contact with customers in the coming days and weeks to arrange completion of orders, prioritising those who were part-way through the installation process. I can also confirm that Anglian will honour the terms of the contract, including the price, that had previously been agreed with each customer."
Joint administrator and Interpath Advisory Managing Director Rick Harrison said: "We understand the uncertainty felt by customers following Safestyle UK falling into administration last week. We're therefore pleased to have reached this agreement with Anglian Home Improvements which gives Safestyle UK customers the certainty and peace of mind that their home improvement projects can now be completed by Anglian."
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